The Sale of housing to overseas who purchase it solely for profit must be stopped

There is a severe shortage of housing in this country which is made worse by allowing those who do not live here to purchase property with the main aim of making a profit.
As a result the cost of property continues to rise which makes it more difficult for younger people to buy rather then rent.
Planning permission is also being granted for housing developments in areas that are totally unsuitable and despite opposition from local residents, this would be greatly reduced if property was only made available to residents of this country or non residents who intended to use it for their own personal use by living in it for an agreed period of time.
I would ask the government to consider changing the law as a matter of urgency.